Fox and Roku team up to boost broadcast audience and advertising revenue.
In an effort to capture the power of the dual markets of live television and digital broadcasting, Fox Corporation on Monday announced that it is acquiring Roku, Inc. for $160.00 per share in a deal valued at $22 billion.
The combination combines FOX's live entertainment, news and sports – including the Tubi service, NFL, MLB and FOX News Media – with the top US television broadcast platform in broadcast hours, accelerating the company's expansion into connected TV advertising.
“This is a defining moment for FOX, and a natural extension of the deliberate and focused strategy we've been implementing for nearly a decade,” said Fox Corporation Chairman and CEO Lachlan Murdoch. “Today, we're taking the next step: combining the most important live content portfolio in video consumption with America's leading streaming platform.”
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“We are leveraging this acquisition because of a position of financial strength – we maintain an investment-grade balance sheet while providing our shareholders with an uninterrupted return on capital through share buybacks and dividends,” continued Murdoch. “Roku invented broadcast TV and grew it into a leading CTV platform. Together, we aim to lead its next chapter.”
Fox Corporation announced Monday, June 15, 2026, that it will be acquiring TV maker Roku for $22 billion. (Getty Images)
The deal places the combined company as the third largest player in US television by viewership share. Currently, Roku is in more than 100 million homes worldwide, including more than half of all US households.
Approved unanimously by the Boards of Directors of both companies, FOX is buying the company using a mixture of cash and its own stock. Once the merger is completed, ownership will be split 73% to current FOX shareholders and 27% to Roku shareholders, based on who owned the shares before the deal.
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Roku founder, chairman and CEO Anthony Wood will retain an ongoing role in the combined company and will join the FOX Board of Directors following the closing in the first quarter of 2027.
“Over the past two decades, we've built Roku into the leading broadcast TV platform, reaching more than 100 million homes around the world and reshaping the way people find and enjoy entertainment. I'm proud of the way our team is built, and the combination with FOX is an incredible opportunity to accelerate our vision, scale quickly and establish a larger audience,” Woods said of his partner.
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“That's why our Board of Directors unanimously determined after completing its review process that this transaction provides a significant payout to Roku's shareholders while also giving them the opportunity to participate in the compelling future growth of the combined company,” added Wood. “I couldn't be more excited about what we are going to accomplish together.”
The deal remains subject to customary closing conditions, including approval by FOX and Roku shareholders as well as US and certain non-US approvals.
The transaction is expected to close in the first half of the 2027 calendar year.
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